NOC reports a 21 percent increase in October oil revenues

By Sami Zaptia.

London, 10 November 2019:

Libya’s state National Oil Corporation (NOC) today reported a 21 percent increase in oil revenues in October compared to September.

Oil revenues for October were US$ 2.2 billion, an increase of 381 US$ million (21 percent) compared the previous month.

Commenting on the figures, NOC Chairman Mustafa Sanalla said “Despite significant security challenges on the ground and a drop in oil prices, NOC delivered increased revenues in October through uninterrupted production and higher sales. These revenues provide vital resources for the Libyan people and our continuity of supply contributes towards market stabilization.”

The NOC did point out that the October 2019 revenue figures include cargo receipts carried over from a busy late September loading schedule.